Rwanda Central Bank lowers interest rate
Rwanda Central Bank has lowered the benchmark interest rate by 60 basis point to 6.5% in a move it says will stimulate lending and boost economic activity in the Country.The…
Top 10 Countries with the highest fuel price in Africa
Central African Republic has been rated number on the list of the top 10 countries with the highest fuel price in Africa. The list was released by Globalpetrolprices.com and presents…
Qatar Airways to acquire 25% stake in Airlink
Qatar Airways will acquire 25% stake in South Africa's Airlink as part of its plan to further expand its network route in Africa.Qatar Airways' Group Chief Executive Al Meer announced…
Nigeria to sell crude oil to Dangote refinery in Naira from October
Nigeria will begin sale of Crude oil to Dangote refinery in Naira from October 2024. This was made known in a post on the Ministry of Finance's X handle.The announcement…
FG opens bids for $500m domestic bond at 9.75% interest rate
The Debt Management Office of the Federal Government has started accepting bids for its $500 million dollar-denominated domestic bond.The bond, which opened for subscription on August 19, 2024, boasts a…
Banks’ assets increase to N1201.8 trillion
The banking sub-sector of Nigeria's Financial & Professional Services (FPS) industry has experienced remarkable growth, with total assets increasing by 56.14% to N121.8 trillion. This surge is highlighted in the…
Forex reserves falls by $342.97 million, first time in four months
Nigeria's foreign exchange reserves have experienced a decline, dropping by approximately $342.97 million over nine days. As of August 15, 2024, the reserves stood at $36.53 billion, marking a 0.93%…
Kenya to reintroduce scrapped tax measures
Kenya is set to reintroduce some of the tax measures which were initially scrapped by President William Ruto after deadly nationwide protests.Recall that Kenya had witnessed nationwide demonstrations in reaction…
Ghana seeks $500 million Cocoa loan amid industry uncertainty
Ghana is negotiating a $500 million loan with cocoa traders, including Olam Group Ltd. and Barry Callebaut AG, to finance its cocoa industry operations. This move comes as the country…
Nigerian Equity Market suffers fourth consecutive loss
The Nigerian equity market's bearish trend continued for the fourth consecutive session on Thursday, resulting in a N56 billion loss for investors. The All Share Index (ASI) declined by 0.10%…
